The Covid-19 pandemic has served as a catalyst for a significant surge in the telehealth industry. Retail giants such as Amazon and Walmart have seized this opportunity, expanding patient options by offering a diverse range of virtual care solutions. Amidst this rapid evolution, it is crucial that the healthcare industry doesn’t lose sight of its core mission—providing quality, continuous patient care.
The entry of retailers into the telehealth space has indeed widened patient options, but it also introduces a potential shift towards commodifying healthcare. This could lead to a transactional care model that prioritizes isolated touchpoints rather than comprehensive, continuous care. In essence, this threatens to steer the industry away from value-based care and back towards fee-for-service models. According to a 2020 study published in the Journal of Medical Internet Research, the quality of telehealth services can vary significantly, underscoring the need for standardized, quality healthcare.
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Quality telehealth hinges on synchronous consultations with licensed physicians. These professionals, when appropriately incentivized and compensated, can deliver personalized care often missing in direct-to-consumer models. This approach is particularly critical given that the CDC reports over half of the U.S. population lives with at least one chronic condition. Continuous, quality interactions between patients and primary care teams can improve outcomes and foster healthier patients.
Weight management approaches that leverage a combination of one-on-one care and consistent access to medical professionals means patients feel supported and have a clear contact point for queries. This level of care should be the industry standard, not the exception.
Moreover, the telehealth industry needs to move towards more flexible payment models. Patients should have the freedom to pay for services in the manner that suits them best. Whether it’s cash pay or utilizing insurance, the industry should educate patients on the most affordable options, thereby making quality healthcare more accessible.
Innovation and adaptability are crucial for corporate success. However, in the healthcare sector, companies bear a deeper level of responsibility. We must not only follow trends but actively shape the future of virtual healthcare. This involves introducing new models, refining existing ones, investing in robust technology, and building talented clinical networks. The primary goal of all industry players should be to better serve patients and advance healthcare.
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The increased competition and attention on telehealth have undeniably raised awareness and acceptance of virtual care. However, as the industry continues to grow, we must ensure we are evolving in the right direction. This means prioritizing quality, continuity, and comprehensive patient care.
As stakeholders in this industry, we have a collective responsibility to ensure telehealth develops in a direction that upholds these values, ultimately serving the best interests of our patients. By prioritizing patient care and adapting our business models to meet the demands of our patients, we can ensure that the telehealth industry continues to provide meaningful and lasting benefits to all those who need it.
Photo: elenabs, Getty Images
As a co-founder of LifeMD, Justin Schreiber has played an essential role in the company’s formation, growth, and development. He has served as CEO and Chairman of the board of directors since 2018. Justin is an experienced venture investor, and the founder and president of JLS Ventures. He previously worked for a global healthcare consulting firm where he gained experience in operations design and effectiveness, efficiency improvements, and supply chain optimization. He began his career at Gain Capital Group, focused on foreign currency trading. Justin holds a B.S. in International Business from Elizabethtown College and a B.A. in International Management from the ICN École de Management in Nancy, France.
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